Two of the most visible and important trends in higher education today are rising costs and the explosion of online learning. Can the proliferation of online courses slow the rising cost of college and help solve the affordability crisis? In this compact, insightful book, William Bowen, former president of Princeton University and a leading expert on the intersection of education and economics, explains why, despite his earlier skepticism, he now believes that technology can lower the cost of educating students without sacrificing quality. Bowen examines a wide range of technology-enabled learning and teaching initiatives, including the popular massive open online courses (MOOCs), and argues that such technologies can transform traditional higher education, ultimately lowering costs and increasing productivity without sacrificing quality or core values. But the organizational, philosophical, and technological challenges are formidable. In particular, there needs to be strong evidence on whether online education is cost-effective across institutions, a rethinking of governance and decision-making structures in higher education, and the development of customisable technology platforms. However, Bowen remains optimistic that the potential gains are huge.